Lawsuit Calls On Supreme Court To Examine SAR Safe Harbor

The defendant in a lawsuit over the filing of a suspicious activity report (SAR) is asking the U.S. Supreme Court to keep in place a lower court's ruling affirming that regulated entities have broad immunity from private lawsuits stemming from such reports.

Last week, Fidelity Brokerage Services filed a brief requesting that the high court decline a petition for a hearing lobbied in September by now-defunct investment firm AER Advisors Inc and two of its former clients, father and son William and Peter Deutsch

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